I’ve been writing about file sharing and collaboration services for a long time now. Heck, I remember Box co-foudner and CEO Aaron Levie back when he was a fresh-faced unknown. He’s still fresh-faced, but the sector he’s a poster child for – file sharing and sync – is perhaps the single most crowded tech market right now. With standalone vendors such as Box, Egnyte, and Syncplicity and bigger platform plays such as Microsoft’s OneDrive or Google’s Drive, there is a dizzying number of competitors vying for attention.
So you’d be forgiven for assuming that the massive competition and huge number of vendors in space would make securing funding for yet another company difficult, especially for one that is relatively obscure. But in making that assumption, you’d be forgetting the fact that investors, desperate to avoid missing out on the next big thing, tend to jump at things which have already proved successful.